Will PartyGaming return to U.S. market?

[The Buzz]

Gambling911's Chris Costigan is reporting that there have been some rumblings that online giant PartyGaming will return to the American market after settling with the U.S. government.

"The reality is that PartyGaming was double the size of its nearest competitor, PokerStars, at the time it pulled out of the U.S. market," stated Payton O'Brien, matriarch of the Gambling911.com website. "Saying PartyGaming has lost significant market share is like saying China has lost half of its population. China would still have a larger population than the United States. India would become the new PokerStars in such a scenario."

PartyGaming chief executive Jim Ryan said this week that his company is making "good progress" in its discussions with the U.S. Attorney's office whereby they may have to pay a sizable fine for previously taking bets from online players in America. It is speculated that the fine will be around the $150 million mark, even though co-founder Anurag Dikshit recently plead guilty and must pay a $300 million fine.

Costigan says that it's "not likely" that PartyGaming will return to the U.S. market in the next year, but that chief executive Jim Ryan is looking forward to "the right time" when "circumstances allow for a return."

[wagerprofits]

Thats funny I have been taking a close look at party the last couple of weeks as I am thinking of buying stock in the company.

I shorted it all the way down on the drop....

Shaun

[intensity2]

I'm in talks with partygaming to bring them back as well. I've spoken with Jim (CEO) about a $100 million settlement (payable to moi) and seems like we're on the right track with that. Soon as I gets paid...

Should be any minute now.

[Aces A]

How would Party be able to return to the US market while they are still a publicly traded company? I just don't see it happening unless the laws here in the US change first.

Sad too, I have hundreds of US Party players from back in the day.

On a side note, do you think Party would pay us if those old players reactivated their accounts under such a scenario?

[MichaelCorfman]

How would Party be able to return to the US market while they are still a publicly traded company? I just don't see it happening unless the laws here in the US change first.

Federal law does not need to change. The UIGEA makes is clear that gambling within a state is a state matter. It is anticipated that there is a very good chance California will legalize and tax online poker within the state this calendar year.

Michael

[Aces A]

Links to more info on California?